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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Hyundai Motor to suspend daily overtime from Dec Reuters - 1 hour 54 minutes ago SEOUL, Nov 27 - Hyundai Motor Co <005380.KS>, South Korea's top auto maker, plans to suspend daily overtime work at some domestic lines from December to cut production on weakening auto demand, company officials said on Thursday. Hyundai, the world's No.5 auto maker along with its affiliate Kia Motors Corp <000270.KS>, has already stopped weekend overtime work at most local production lines, except a line for compact sedans such as the Elantra, company officials said. "We decided to adjust production volume to deal with faltering demand," a Hyundai official told Reuters by telephone, asking not to be identified. The decision came as a private industry group said it expected the country's domestic car sales next year to fall about 10 percent as a global recession hits Asia's fourth-largest economy. The Korea Automobile Manufacturers Association , whose members include Hyundai, said that local car sales in 2009 were likely to sink to about 1.1 million vehicles, from an expected 1.2 million this year. "The local auto industry has recently been facing a sharp slowdown in sales as the global economic downturn dampens the economy," the group said in a statement. Domestic car sales dropped more than 30 percent in November from the previous month, it added. South Korean auto makers sold 992,387 vehicles in the local market during the first 10 months of the year, down 0.9 percent from a year earlier, according to the KAMA. Carmakers have taken various measures to respond to shrinking auto demand at home and abroad, including production cuts. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business German carmaker Daimler may cut some working hoursAP - 27 minutes ago FTSE 100 up 65.75 at 4,218.44AP - 30 minutes ago UK house price crash eases in NovemberAP - 39 minutes ago UK electronics retailer DSG posts 1H net lossAP - 40 minutes ago Pakistan-based militant group denies Mumbai attacksReuters - 50 minutes ago Most Popular – Business Viewed Fed, Treasury offer $800 bln more to credit markets Michael Jackson strikes 'amicable' deal with Arab sheikh Love handles increase death risk: study US clears Bank of America deal for Merrill Lynch US president's mother 'doing very well' in hospital: Laura Bush View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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